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【ノート】
First of all, I’ll introduce a summary of the first half results. Although sales of PCs grew due to the expansion of teleworking amid the COVID-19 outbreak, net sales declined as a result of a significant impact from changes in commercial rights and commercial distribution with major business partners. Both operating income and ordinary income declined despite efforts to reduce SG&A expenses in line with the decline in sales. Net income increased due to a gain on bargain purchase following M&A.
Next is an overview of the main segments. In Electronic Components, the components sales business benefited from the effect of Excel’s consolidation in April 2020, but the termination of FEI sales agency agreement with Cypress Semiconductor and other factors pushed sales down sharply. The EMS Business maintained steady performance in the medical equipment area, but sales fell for the automotive and air conditioning devices due to the impact of the partial suspension of operations at overseas plants during the lockdowns.
In the Information Equipment Segment, sales rose in the PC Sales Business due to an increase in remote work and online classes. On the other hand, sales in the Home Electric Appliances Business continued to post lower sales.
For the fiscal year ending March 2021, there are signs of a gradual recovery from the pandemic in some manufacturing industries. Moreover, the earnings results in the first half surpassed our internal plans. Given these factors, we have raised our forecasts for net sales, operating income, and ordinary income upward from the previous forecasts, which were released on August 6. There was no change in the forecast of profit attributable to owners of parent due to uncertainty in the second half.
Regarding shareholder return, we will pay an interim dividend of JPY30 per share as we initially announced. The year-end dividend will remain unchanged from the initial forecast of JPY30 per share.